Concentra Group Holdings Parent, Inc. $CON Stock Holdings Increased by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors increased its CON position by 4.9% in the first quarter, adding 144,379 shares to own 3.11 million shares valued at approximately $66.6 million, or 2.42% of the company.
• Analyst sentiment remains positive, with seven Buy ratings and one Hold rating producing a “Moderate Buy” consensus and an average price target of $31.40. Truist recently raised its target to $37.
• Concentra reported quarterly EPS of $0.40 versus the $0.35 consensus and revenue of $569.6 million, up 13.7% year over year; the company also pays a quarterly dividend of $0.0625 per share.

Dimensional Fund Advisors LP grew its position in shares of Concentra Group Holdings Parent, Inc. (NYSE:CON - Free Report) by 4.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,107,254 shares of the company's stock after buying an additional 144,379 shares during the period. Dimensional Fund Advisors LP owned about 2.42% of Concentra Group Holdings Parent worth $66,645,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund increased its stake in Concentra Group Holdings Parent by 1.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 27,308 shares of the company's stock valued at $537,000 after purchasing an additional 500 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Concentra Group Holdings Parent by 32.0% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,118 shares of the company's stock worth $42,000 after buying an additional 514 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Concentra Group Holdings Parent by 124.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,195 shares of the company's stock valued at $25,000 after buying an additional 663 shares during the period. ProShare Advisors LLC boosted its holdings in shares of Concentra Group Holdings Parent by 3.1% in the 4th quarter. ProShare Advisors LLC now owns 22,750 shares of the company's stock valued at $448,000 after buying an additional 690 shares during the period. Finally, Osaic Holdings Inc. grew its position in shares of Concentra Group Holdings Parent by 59.5% during the 2nd quarter. Osaic Holdings Inc. now owns 2,041 shares of the company's stock valued at $42,000 after buying an additional 761 shares during the last quarter.

Insider Activity

In other news, Director Robert A. Ortenzio sold 130,000 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $30.50, for a total value of $3,965,000.00. Following the completion of the transaction, the director owned 633,455 shares of the company's stock, valued at approximately $19,320,377.50. This represents a 17.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 390,000 shares of company stock valued at $10,465,000 over the last ninety days. Corporate insiders own 8.10% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on CON. William Blair began coverage on Concentra Group Holdings Parent in a report on Wednesday, July 1st. They set an "outperform" rating for the company. Weiss Ratings raised Concentra Group Holdings Parent from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, May 11th. The Goldman Sachs Group initiated coverage on Concentra Group Holdings Parent in a research report on Friday, June 5th. They set a "buy" rating and a $30.00 price objective for the company. Finally, Truist Financial upped their price objective on Concentra Group Holdings Parent from $31.00 to $37.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $31.40.

Concentra Group Holdings Parent Price Performance

Shares of NYSE:CON opened at $31.67 on Friday. The firm's 50 day moving average is $29.18 and its two-hundred day moving average is $25.04. The firm has a market capitalization of $4.05 billion, a P/E ratio of 22.79, a PEG ratio of 1.44 and a beta of 0.64. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 3.62. Concentra Group Holdings Parent, Inc. has a 52 week low of $18.55 and a 52 week high of $32.86.

Concentra Group Holdings Parent (NYSE:CON - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.05. Concentra Group Holdings Parent had a return on equity of 47.14% and a net margin of 7.97%.The business had revenue of $569.55 million during the quarter, compared to the consensus estimate of $553.53 million. During the same period in the previous year, the firm posted $0.32 earnings per share. The business's revenue was up 13.7% on a year-over-year basis. Analysts anticipate that Concentra Group Holdings Parent, Inc. will post 1.52 earnings per share for the current year.

Concentra Group Holdings Parent Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 19th were given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Tuesday, May 19th. Concentra Group Holdings Parent's payout ratio is 17.99%.

About Concentra Group Holdings Parent

Concentra Group Holdings Parent NYSE: CON is a Canada-based financial services holding company that specializes in serving Canadian credit unions and their members. Through its operating subsidiaries, the group provides wholesale funding, lending solutions and investment management services tailored to the unique needs of cooperative financial institutions. Concentra’s broad suite of offerings includes trust and custody services, mortgage investment products and equipment financing, all designed to support credit-union growth and stability.

In addition to wholesale funding and lending, Concentra Group Holdings Parent distributes life and general insurance products through affiliated insurance brokers and credit-union channels.

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